Politics
Economy Ease: Tinubu Approves Takeoff of Consumer Credit Scheme
Israel Adeleke
The President of the federal republic of Nigeria, Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme.
The president revealed this development in a statement signed by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, on April 24, 2024.
According to the statement, Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time.
It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations.
Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased demand for goods and services stimulates local industry and job creation.
The statement explained that the President believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.
Furthermore, in line with the President’s directive to expand consumer credit access to Nigerians, the Nigerian Consumer Credit Corporation (CREDICORP) has launched a portal for Nigerians to express interest in receiving the consumer credit.
The statement elucidated that this initiative, is in collaboration with financial institutions and cooperatives nationwide, and it aims to broaden consumer credit availability.
The Nigerian Consumer Credit Corporation (CREDICORP) achieves its mandate through the following:
(1) Strengthening Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.
(2) Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today.
(3) Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.
It added that working Nigerians interested in receiving the consumer credit can visit www.credicorp.ng to express interest and the deadline is May 15, 2024.
“The scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public.” The statement added.
Fawaz Adebisi
Ademola Adeleke, the governor of Osun State has given consent to the readjustment of workdays for civil servants in the state.
This was made known on Tuesday through a circular from the Office of the Head of Service, Samuel Aina Ayanleye and issued in a statement by Olawale Rasheed, the spokesperson of the Osun State Governor.
As gathered, this is in response to the high transportation costs in Nigeria.
Adeleke made this move few weeks after its neighboring state, Ogun state reduced its civil servants workdays to 3 per week.
However, in addition, the circular stated that Ademola also approved an extension of payment of palliatives for public servants for the next two months.
Also, it stated that the action was in pursuance of Governor Adeleke’s commitment to the well-being of workers, and a response to the present economic situation in the Country.
“By this Circular, therefore, and until another directive is given, the working day schedules for Public Servants in the state have been approved as follows:
“Public Servants on GL.01 to GL.10 – Three days a week. Public Servants on GL12 to GL.17 – Four days a week.”
The Circular further noted that the arrangements exclude those on essential duties such as medical personnel, security officers, political office holders and Accounting Officers.
“It is also important to note that arrangements as to which days each public servant in the above categories will be at work shall be arranged by the Accounting Officers in Ministries, Departments and Agencies of government.
“The Governor has also graciously approved the continuation of payment of the agreed palliatives to public servants in the state for the next two months pending the commencement of the new minimum wage.
“All Accounting Officers of Ministries, Departments and Agencies of governments, including local governments, were further directed to comply.”
Fawaz Adebisi
The Ooni of Ife, Oba Adeyeye Ogunwusi has assured Nigerians that normalcy will return to the land, preparing to go into his seven days seclusion.
The monarch, in a statement through his spokesperson, Moses Olafare on Monday said the rite is the most sacred moment for him on the throne which he utilises to interact with his ancestors and pray for the people, the Oduduwa race worldwide, as well as mankind in general.
According to the statement, Ogunwusi stressed that his major request during the rite would be the betterment of the people in the country.
He said,”this time around, I want To pray and seek for the face of our Creator to intervene on the current economic situation.
“Things are very tough and people are feeling the hardship, I want to pray for all and sundry and specially urge the youths to exercise patience so that we will not used our hands to destroy our country.
“I know that people are passing through difficult periods in which they are not finding life easy and truly this is a challenging period.
“But I know that after this festival, normalcy will return to the country, as the problems we’re facing will soon come to an end,” Ooni said.
Also, he urged the government to be diligent in serving the populace by making bountiful dividends of democracy for the citizenry.
Fawaz Adebisi
The Abia State Government has set a date to start implementing the new minimum wage.
Okey Kanu, the state Commissioner for Information revealed on Monday that the minimum wage implantation will kick off by October.
Kanu said this while briefing the press on the outcome of the week’s State Executive Council meeting chaired by the state governor, Alex Otti.
In his words, “will cut across all categories of workers.”
Speaking of other outcomes of the meeting, he stressed that the state government is also set to commence the construction of 17 court halls across the 17 local government areas of the state.
He further disclosed that the state Ministry of Health will next week organise a free medical outreach at Ugwunnagbo.
In the same vein, he added that there would be free medical consultations, maternal and child healthcare services and free diagnostic tests.
